Genetic Signatures

Genetic Signatures Limited – Annual Report 2021 Directors’ Report DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021 4 Looking Forward Genetic Signatures plans to continue to consolidate its gains through FY2022 and beyond, particularly in international markets. The new financial year has started strongly, with the Group announcing sales of $4m in July from testing due to outbreaks globally, but particularly in Australia. Whilst COVID-19 has been an opportunity, the focus is on expanding the range of EasyScreen™ tests that current and new customers use day to day. The keys to future success for Genetic Signatures are: • Focus on long term customer contracts and customer satisfaction. Ensuring that customers are receiving both high performance products and a reliable service allows repeat business and a secure future. • Leverage COVID-19 to promote new tests to new and existing customers. SARS-CoV-2 has introduced many laboratories to the benefits of both molecular PCR testing generally but also the 3base™ advantages, particularly for multiplex screening. The introduction of new tests using the same platforms and workflow is relatively simple. • Further product development. Continue to leverage the 3base™ technology to increase the number of pathogens that can be tested. If these can be achieved Genetic Signatures has a bright future. STATE OF AFFAIRS There have been no significant changes in the state of affairs of the Group during the year. DIVIDENDS No dividends were paid or were payable during the year (2020: NIL). EVENTS SUBSEQUENT TO THE REPORTING DATE The impact of the Coronavirus (COVID-19) pandemic is ongoing and while it has been financially positive for the consolidated entity up to 30 June 2021, it is not practicable to estimate the potential impact, positive or negative, after the reporting date. The situation is rapidly developing and is dependent on measures imposed by authorities in countries where Genetic Signatures supplies test kits, such as speed and effectiveness of vaccine rollout, maintaining social distancing requirements, quarantine, travel restrictions and any economic stimulus that may be provided. Other than the above, there has not arisen in the interval between the end of the financial year and the date of this report any other item, transaction or event of a material and unusual nature likely in the opinion of the directors of the Company to affect significantly the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years. LIKELY FUTURE DEVELOPMENTS Likely developments in the operations of the Company and the expected results of those operations in future financial years have not been included in this report as the inclusion of such information is likely to result in unreasonable prejudice to the Company. ENVIRONMENTAL COMPLIANCE The Company’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory.